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Prime Minister Benjamin Netanyahu today refrained from commenting on US President Donald Trump's intention to recognise Jerusalem as Israel's capital in his first speech since the plan was confirmed.

Netanyahu, speaking at a diplomatic conference organised by The Jerusalem Post newspaper, instead focused on Israel's security and economic ties with countries globally during his 20-minute speech.

Trump's plan, to be announced later today, has set off alarm bells around the world.

Other Israeli ministers commented on the plan, hailing it as a historic move.

"I call upon other countries to follow the United States and recognise Jerusalem as the Jewish and undivided capital," Education Minister Naftali Bennett, head of the far-right Jewish Home party, said at the conference.

"The United States is adding another brick to the walls of Jerusalem, to the foundation of the Jewish nation."

Justice Minister Ayelet Shaked, also of Jewish Home, said: "I think it is a victory of the American people and the American spirit."